Ocean power producer finalizing construction of newest test system

TEL AVIV, Israel 3/16/12 (PennWell) -- Wave energy company Eco Wave Power will soon begin tests of a medium-scale power plant on a pier in the Black Sea.

The company anticipates that the unit will be installed during the first quarter of 2012 and will have a capacity of at least 5 kW, according to a release. A model of the unit recently underwent testing at the Hydro Mechanic Institute of Kiev.

Eco Wave Power says it has secured funding for three of its ocean energy generation systems -- the last of which will be a full-sized, commercial scale electrical plant with the ability to power up to 1,000 homes.

The systems are being designed to be as cheap as possible for implementation in developing countries, says EWP founder David Leb.